By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose more than 1% on Thursday, supported by lower U.S. crude stockpiles and a halt to exports from Iraq’s Kurdistan region, which offset pressure from a smaller-than-expected cut to Russian supplies. Brent crude futures rose 99 cents, or 1.3%, to $79.27 a barrel. West Texas Intermediate crude …
Oil rises over 1% on Iraqi supply risks, U.S. crude draw Read More »
BENGALURU (Reuters) – Hero MotoCorp Ltd, India’s biggest two-wheeler maker by volume, on Thursday named company insider Niranjan Gupta as its chief executive officer. Gupta, currently chief financial officer at Hero MotoCorp, played a role in forming the bike maker’s partnerships with Harley Davidson and electric-motorcycle maker Zero Motorcycles, the company said. Pawan Munjal, Hero …
(Reuters) – Adani Group executives met U.S. investors from BlackRock Inc, Blackstone Inc and Pacific Investment Management in order to market privately placed bonds, Bloomberg News reported on Wednesday. The company aims to raise up to $1 billion in two tranches this year through this route, the report said citing sources. Adani Group declined to …
Adani met Pimco and BlackRock for potential private bond placement – Bloomberg News Read More »
(This March 29 story has been corrected to say 8.88 trillion rupees, instead of 8.8 trillion rupees, in paragraph 1) By Nikunj Ohri (Reuters) – India’s federal government plans to borrow 8.88 trillion rupees ($108.08 billion) – slightly above expectations – via bonds from the market in the first six months of the fiscal year …
India’s April-September borrowing slightly above market expectations Read More »
BENGALURU (Reuters) – The Indian government said on Thursday it was providing a full exemption from basic customs duty for rare disease therapies and Merck & Co Inc’s cancer therapy Keytruda when such medicines were imported for personal use. The government said in a statement that while some drugs such as treatments for spinal muscular …
India exempts import tax on pricey rare disease medicines Read More »
LONDON (Reuters) – The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades. The collapse of U.S.-lender Silicon Valley Bank (SVB) in early March after heavy losses on its bond portfolio as rates climbed was a wake-up call for markets that monetary tightening will likely …
By David Lawder, Kanishka Singh and Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday rejected the idea of a near-term capital increase for the World Bank and said she expected U.S. nominee Ajay Banga to win election as the bank’s next leader, with no challengers emerging as the nomination period closed. …
By Deep Kaushik Vakil (Reuters) – Gold prices slipped on Wednesday as upbeat equities and a stronger dollar weighed, but declines in safe-haven bullion have been fairly contained so far, signalling lingering worries about the banking sector. Spot gold was trading 0.3% lower at $1,967.29 per ounce by 2:11 p.m. EDT (1811 GMT). U.S. gold …
Gold drops as higher equities, stronger dollar weigh Read More »
BENGALURU (Reuters) – Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told an Indian tribunal on Wednesday that they have settled a dispute over a loan default, paving the way for the media company’s merger with a local unit of Sony. IndusInd started bankruptcy proceedings against Zee Entertainment late last month over a default of …
India’s Zee Entertainment, IndusInd Bank settle loan default dispute Read More »
By Jayshree P Upadhyay (Reuters) – India’s market regulator on Wednesday agreed to give more power to shareholders and asked large corporations to make clearer disclosures to stock exchanges on market-moving events. The Securities and Exchange Board of India (SEBI) also gave retail investors greater control over the money they invest by ensuring that funds …
India markets regulator clears reforms giving more say to investors Read More »
